Truly one of a kind property on .24 ac lot in the heart of French Place/ Cherrywood in walking distance UT Law School! This home is nestled under a canopy of lush landscaping w a huge front porch w retro iron trellis work! Live in the vintage 1950's 3/1 cottage w gorgeous original hardwood floors, clawfoot tub, casement windows, rounded archways & oversized sleek back deck while you have 3 other rentable areas that bring in income that could offset a huge chunk of your mortgage payment! In total all 4 beautiful areas have separate entrances and are currently rented for $5150 month but several have long term tenants and are under market value. Rent potential is closer to $6450. The character and thoughtfulness to preserve the original features while providing updated modern charm is unbelievable. The alternate living spaces feature sleeping lofts w custom wood ladders, vaulted ceilings, french doors, built in bookcases & wood clad windows! Lot is 75front/79back/155right/130left so many development options! Walk/Bike to UT, Law School, the Drag, 3 min to DT Austin, Ladybird Lake Hike & Bike Trails, Hoovers, Haymaker, Este & tons of yummy coffee shops & restaurants! One of the best streets in the highly coveted French Place/Cherrywood neighborhood as its peaceful & quiet. Super low 1.9 tax rate plus the rental income make this the most affordable and uniquely cool properties you will come across! 4.6% cash on cash cap rate w potential of 6.3% cap w up to date rents. There are also air B&B opportunities or you can combine the areas to accommodate a larger house. Owner agent, all sqft estimated & to be verified by buyer. Leases all end Sept 30th. All appliances convey!
Based on information submitted to the MLS GRID as of 2023-08-23 00:00:00 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
Last Updated: . Source: ACTRIS
Provided By
Listing Agent: Chrissy Caputo (#472689), Phone: (512) 250-0253
Listing Office: Austin Summit Group (#232301)
Provided By (Buyer)
Buyer's Agent: Laura Leslie (#801080)